Planned Giving. Discover the Benefits.

Did you know there are creative ways to support our Pennock Foundation? These creative ways can also be a way in which both our Foundation, you and your loved ones all benefit at the same time.

 

Creative Support: Estate Planning

The IRS values everything you own at death as part of your estate, including property, stock, life insurance, IRAs, retirement plans, business interests, CDs, checking accounts and so forth. When the value adds up to more than $600,000, the government will begin taking a sizeable percentage of the value in taxes.

Gifting is the principal way to reduce an estate to avoid estate taxes. Gifts to loved ones are one type of gifting allowed. In addition, gifts to charities can be made during lifetime or after death to effectively reduce an estate to avoid estate taxes. With proper estate planning, gifts to charity don’t significantly reduce money left to heirs. Gifts can reduce taxes owed to government and benefit the causes most important to you. These can be outright gifts of cash, stock or property that yield immediate tax benefits in the year the donation is made, or a deferred gift that can benefit your favorite charity and significantly reduce your estate tax liability. The best gift option for you will depend on your own personal circumstances — age, financial situation, retirement plans, family needs and life goals. Please talk to your tax, financial or legal advisor to make decisions best for your own situation.

The most common types of planned gifts include:

Bequest: Make a gift to the future of the Pennock Foundation that does not affect your cash flow or portfolio today. Tomorrow, an estate tax deduction.

Charitable Gift Annuity: Retain income benefits from the assets you give to the Pennock Foundation; receive a charitable deduction and diversity in your holdings.

Deferred Gift Annuity: Reduce high tax liability now; gain additional income later.

 

Planned Giving Resources

Our Planned Giving Guidebooks provide information on everything from doing good through gift giving, financial and tax planning tips and much more.

Please download a PDF Guidebook below to learn more.